CT Real Estate Investment Trust (CRT-UN) investor relations material

Executive summary

• Q1 2026 results showed strong portfolio performance, high occupancy at 99.4%, and continued benefit from contractual rent escalations in long-term leases.

• Same-property NOI grew 2.3% and total NOI increased 4.7% year-over-year, supporting steady earnings growth.

• AFFO per unit rose 2.8% and FFO per unit increased 3.5% compared to Q1 2025, with a stable payout ratio in the low to mid-70% range.

• Monthly distributions will increase by 3.5% effective July 2026, marking the 13th increase since IPO and over 50% cumulative growth.

• Three new property investments totaling CAD 43 million, expected to add nearly 130,000 sq ft of GLA at a 6.28% yield.

Financial highlights

• Property revenue rose 4.8% year-over-year to CAD 157.6 million for Q1 2026.

• Net operating income increased 4.7% to CAD 124.3 million, driven by acquisitions, intensifications, and rent escalations.

• Net income grew 9.5% to CAD 115.7 million, primarily due to higher fair value adjustments and property revenue.

• AFFO per unit (diluted) was CAD 0.327, up 2.8% year-over-year; FFO per unit (diluted) was CAD 0.354, up 3.5%.

• Distributions per unit paid rose 2.5% to CAD 0.237; AFFO payout ratio stable at 72.5%.

Outlook and guidance

• Confident in ability to deliver reliable performance and long-term value creation, supported by a stable net lease portfolio and robust development pipeline.

• Acquisition activity expected to continue at a steady pace, focusing on capital-efficient growth opportunities.

• No specific guidance on acquisition quantum or type for the remainder of 2026, but outlook is positive.

• Forward-looking statements highlight expectations for future growth, but caution on risks and uncertainties.